Inflation Expectations in Advanced Economies

Rachel Adeney, Ivailo Arsov and Richard Evans
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Rachel Adeney: Reserve Bank of Australia
Ivailo Arsov: Reserve Bank of Australia
Richard Evans: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2017, 31-44

Abstract: Anchored inflation expectations are important for price stability because expectations affect current actions. Although all inflation expectations measures provide some information about future inflation, professional forecasters have been the most accurate in predicting future inflation, while market-implied and consumer measures have tended to be less so. Recent declines in inflation expectations have been concentrated in the measures that have historically been less accurate predictors. The more accurate measures have been more stable and have remained close to central banks' inflation targets.

Keywords: Inflation expectations; advanced economies; consumer surveys; professional forecasters surveys; market-implied expectations; forecast evaluation; inflation target (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (7)

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